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Sunshine Raises Funds to Complete West Ells
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Sunshine has announced that on May 22, 2014 in Hong Kong (May 22, 2014 in Calgary) it intends to offer US $325,000,000 aggregate principal amount of senior secured notes of the Corporation maturing in 2019.
The terms and conditions of the Offering, including the interest rate of the Notes, will be determined after taking into account market conditions and all other relevant factors.
The Corporation intends to use the proceeds from the Offering to:
(i) fund expenditures associated with the anticipated final construction and development necessary to complete phases one and two at the Corporation's West Ells steam assisted gravity drainage (SAGD) project and general corporate purposes, (ii) prefund 18 months of cash interest in an escrow account and (iii) pay fees and expenses…- ✓ Full news archive — U.S., Canada & international coverage
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